Topshop is closing all its US stores

(Image credit: Rex)

If you live in the US and enjoy getting your Topshop fix regularly, then I'm sorry to say it won't be possible anymore, as the high-street chain is closing all its US stores.

Ian Grabiner, chief executive of Arcadia Group, told the BBC that the move was a 'tough but necessary' one, to avoid potential bankrupcy.

He added, 'Against a backdrop of challenging retail headwinds, changing consumer habits and ever-increasing online competition, we have seriously considered all possible strategic options to return the group to a stable financial platform.'

In addition to the US stores, 23 others under the Arcadia umbrella are set to shut in the UK and Ireland, which include Dorothy Perkins, Burton and Miss Selfridge.

The rest of the stores will continue to trade as normal, whilst Arcadia seeks a solution to maintain them. Another meeting with creditors is said to be happening on 5 June, during which they will set out a financial plan.

If you live in the US, you'll still be able to shop Topshop online, so all is not lost.

Penny Goldstone

Penny Goldstone is the Digital Fashion Editor at Marie Claire, covering everything from catwalk trends to royal fashion and the latest high street and Instagram must-haves.

Penny grew up in France and studied languages and law at the Sorbonne Nouvelle University in Paris before moving to the UK for her MA in multimedia journalism at Bournemouth University. She moved to the UK permanently and has never looked back (though she does go back regularly to stock up on cheese and wine).

Although she's always loved fashion - she used to create scrapbooks of her favourite trends and looks, including Sienna Miller and Kate Moss' boho phase - her first job was at, sourcing the best deals for everything from restaurants to designer sales.

However she quit after two years to follow her true passion, fashion journalism, and after many years of internships and freelance stints at magazines including Red, Cosmopolitan, Stylist and Good Housekeeping, landed her dream job as the Digital Fashion Editor at Marie Claire UK.

Her favourite part of the job is discovering new brands and meeting designers, and travelling the world to attend events and fashion shows. Seeing her first Chanel runway IRL at Paris Fashion Week was a true pinch-me moment.